Westpac Banking Corp Purchases 21,062 Shares of Bank of America Corporation $BAC

Westpac Banking Corp grew its position in Bank of America Corporation (NYSE:BAC) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 153,331 shares of the financial services provider’s stock after purchasing an additional 21,062 shares during the quarter. Westpac Banking Corp’s holdings in Bank of America were worth $7,910,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Bank of America by 30.0% in the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Bank of America by 40.5% during the second quarter. Sivia Capital Partners LLC now owns 21,401 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 6,174 shares in the last quarter. Advisory Alpha LLC lifted its holdings in shares of Bank of America by 3.4% during the second quarter. Advisory Alpha LLC now owns 33,103 shares of the financial services provider’s stock worth $1,567,000 after buying an additional 1,082 shares in the last quarter. Howard Capital Management Inc. boosted its position in shares of Bank of America by 14.1% in the second quarter. Howard Capital Management Inc. now owns 47,192 shares of the financial services provider’s stock valued at $2,233,000 after acquiring an additional 5,832 shares during the period. Finally, Biltmore Family Office LLC grew its stake in shares of Bank of America by 0.7% in the second quarter. Biltmore Family Office LLC now owns 39,748 shares of the financial services provider’s stock valued at $1,881,000 after acquiring an additional 263 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Key Bank of America News

Here are the key news stories impacting Bank of America this week:

• Positive Sentiment: Wall Street analysts remain generally constructive on BAC’s longer‑term prospects, which supports upside if sector pressures ease. Read More.
• Neutral Sentiment: Bank of America filed its latest Form 10‑K with the U.K. National Storage Mechanism — a routine disclosure that doesn’t by itself change guidance or earnings expectations. Read More.
• Neutral Sentiment: Coverage notes and analyst activity from BofA Securities across many sectors continue (ratings reiterated on a range of names). These reflect brokerage workflow more than near‑term moves in BAC itself. Read More.
• Negative Sentiment: Private‑credit turmoil—exemplified by large managers selling loans to meet redemptions—has rippled through financials, contributing to a pullback in bank stocks and weighing on BAC. Read More.
• Negative Sentiment: Broader economic and tariff‑related uncertainty has pressured big banks, and BAC’s recent underperformance versus the S&P has amplified selling pressure. Expect volatility until macro signals stabilize. Read More.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAC. Barclays raised their price target on shares of Bank of America from $59.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Wells Fargo & Company raised their target price on shares of Bank of America from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Evercore set a $59.00 price target on Bank of America in a research note on Thursday, January 15th. Piper Sandler increased their price target on Bank of America from $56.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Finally, Argus raised their price objective on Bank of America from $58.00 to $59.00 and gave the stock a “buy” rating in a research note on Thursday, January 15th. Twenty-two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

Bank of America Stock Performance

NYSE:BAC opened at $51.71 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $377.63 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.23 and a beta of 1.29. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55. The stock’s 50-day simple moving average is $54.06 and its 200 day simple moving average is $52.38.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $27.73 billion. Bank of America had a net margin of 16.23% and a return on equity of 11.07%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 earnings per share. On average, analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, March 6th. This represents a $1.12 annualized dividend and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is 29.24%.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.